AQR Capital Management LLC Sells 179,636 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• AQR Capital Management LLC reduced its stake in Qfin Holdings by 7.4%, selling 179,636 shares, leaving them with approximately 2.25 million shares valued at $101.16 million.
• Qfin recently reported a miss on earnings with EPS of $1.78, falling short of the $1.79 consensus estimate, and had a revenue of only $728 million against an expectation of $4.68 billion.
• The company announced an increase in its semi-annual dividend to $0.76 per share, up from $0.70, indicating a high yield of 440.0% based on current stock values.

AQR Capital Management LLC lowered its position in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,252,495 shares of the company's stock after selling 179,636 shares during the period. AQR Capital Management LLC owned about 1.43% of Qfin worth $101,160,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in shares of Qfin during the 1st quarter worth about $28,000. Virtus Investment Advisers Inc. acquired a new position in shares of Qfin during the 4th quarter worth about $61,000. State of Wyoming acquired a new position in shares of Qfin during the 4th quarter worth about $97,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Qfin during the 1st quarter worth about $108,000. Finally, Headlands Technologies LLC acquired a new position in shares of Qfin during the 1st quarter worth about $151,000. Institutional investors own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

QFIN has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $51.73.

Qfin Price Performance

Shares of NASDAQ QFIN traded down $0.66 during midday trading on Monday, reaching $28.11. The company's stock had a trading volume of 1,260,546 shares, compared to its average volume of 1,895,070. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a fifty-two week low of $24.31 and a fifty-two week high of $48.94. The business's 50 day moving average price is $35.48 and its two-hundred day moving average price is $39.65. The company has a market cap of $4.43 billion, a P/E ratio of 4.06, a P/E/G ratio of 0.29 and a beta of 0.45.

Qfin (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Qfin had a net margin of 38.66% and a return on equity of 30.74%. The business had revenue of $728.00 million during the quarter, compared to analyst estimates of $4.68 billion. On average, analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a $0.76 dividend. This represents a yield of 541.0%. This is a positive change from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date of this dividend is Monday, September 8th. Qfin's payout ratio is 19.49%.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.